Canada Set to Launch Worlds First Spot Solana ETFs on April 16
The post Canada Set to Launch Worlds First Spot Solana ETFs on April 16 appeared first on Coinpedia Fintech News
After Bitcoin and Ethereum ETFs, Canada is all set to launch the worlds first-ever spot Solana ETFs (Exchange-Traded Funds) on April 16, 2025, making it a big moment not just for Canada, but for the global crypto space. The launch of these ETFs comes at a good time, as Solanas price has gone up by 25% in the past week.
Canada to Launch Solana ETFs
The Ontario Securities Commission (OSC) has officially given the green light to several major ETF issuers, Purpose Investments, Evolve ETFs, CI Global Asset Management, and 3iQ, to roll out Solana ETFs in the country.
These firms will offer new ETFs that actually hold real Solana (SOL) tokens, instead of just following the price.
What makes these ETFs special is that they will also include staking. According to a Bloombergs Eric Balchunas, the ETFs will use TD Bank for staking services. Staking means holding Solana to help the network and, in return, earning extra coins as rewards.
This can give investors higher returns, especially because Solana staking pays more than Ethereum, and it can also lower the total cost of holding the ETF.
How This ETF Is Different From Other ETFs
Even though all the ETFs will hold Solana, each one will track a different index. This gives investors different ways to invest in Solana based on their goals and strategies.
All of them, however, will focus on long-term holding of physical Solana coins, showing strong belief in the future of the token.
Solana Market Santiment Peaks
Solana is getting a lot of attention lately, and not just from investors! According to data from Santiment over the past few days, more and more people have started talking about it online, and its trending on social media.
Adding to the excitement, data from Nansen shows that Solana had the highest number of transactions among all blockchains in the last week, over 355 million transactions.
Solana (SOL) Price May Jump to $151
Looking at the Solana 1-day price chart, it has been consolidating between the $125 to $135 range for the past few days. Experts believe that if it can break above $137, the next target could be around $151.
However, if the price falls below the support level of $125, it might drop further to $117. So, the next few days are important for Solanas price direction.
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Text source: Coinpedia – Fintech & Cryptocurreny News Media| Cr
